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Offering A BuyTitle:
Technical analysis of the XAU/USD (Gold) pair on March 1st, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD felt strongly yesterday and has validated the breakout of 1750 points, offering a sell signal.
THe pair just found support on 1700 points and is still moving into its long term bullish channel.
All indicators are now bearish.
We continue to advise short positions as far as 1750 points is resistance.
The breakout of 1700 will give a new sell signal and open the way towards 1650 points.
In case of return above 1750 points, a buy signal will be given.
See the previous analysis of the XAU/USD pair of February 29th, 2012
XAU/USD Analysis
Title:
Technical analysis of the EUR/GBP pair on March 1st, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP has validated the breakout of 0.84, offering a new sell signal.
All indicators are now bearish.
We advise to trade the pair according to key level 0.84.
Below 0.84 - We advise to trade only short positions. The breakout of 0.8350 will give a new sell signal and open the way towards 0.83.
Above 0.84 - We advise to trade only long positions. The breakout of 0.8450 will give a new buy signal and open the way towards 0.85.
See the previous analysis of the EUR/GBP pair of February 29th, 2012
EUR/GBP Analysis
Title:
Dollar hovers above 3-month low as Fed drops no easing hint
(Reuters) - The U.S. dollar hovered above a three-month low against a basket of major currencies on Thursday after the U.S. Federal Reserve chief stopped short of offering a clear hint of more bond buying.
The dollar index against a basket of currencies .DXY stood at 78.72, above a three-month low of 78.095 hit on Wednesday, while the euro traded at $1.3341, up slightly in Asia but hardly recovered from a loss of more than 1 percent from a high of $1.3486 on EBS on Wednesday.
The euro and the Australian dollar nursed heavy losses as investors took profits from the recent rally in riskier assets after a long-awaited massive fund injection from the European Central Bank to banks.
Still, U.S> Federal Reserve Chairman Ben Bernanke's testimony on Wednesday did little to change a broad ...
Title:
Gold down 5 percent, biggest one-day drop in 3 years
Gold fell 5 percent to below $1,690 an ounce on Wednesday for its biggest one-day drop in more than three years, as speculation that central banks might be done with easy monetary policies led funds to exit the bullion trade.
Gold fell nearly $100 and silver was down $3 from session highs. Losses started to snowball at 10 a.m. EST (1500 GMT) after U.S. Federal Reserve Chairman Ben Bernanke did not mention another round of monetary easing was imminent.
Trading volume exploded when speculation about an unusually large sell-order ran rampant. Option traders said funds were heavy buyers of puts to protect against further losses.
Gold's losses dwarfed those in the euro and other commodities as bullion fell through key support after it failed to sustain gains around $1,790 an ounce, above ...
Title:
Oil gains on cheap ECB loans, Iran fears
Brent crude oil rose on Wednesday, snapping two days of sharp falls, after the European Central Bank allocated more than $500 billion for cheap loans, spurring buying of riskier assets while fears about supply disruption from Iran also supported prices.
Front-month Brent rose $1.35 to $122.90 a barrel by 1440 GMT, after sliding $2.62 on Tuesday to settle at $121.55.
However, it was well below the high for the day of $123.20, and it has retreated from highs above $125 set last week, and analysts said that worries about how high oil high prices were hurting demand could limit further gains.
"We're seeing Singapore gasoil destroyed and residual fuel oil is hurt, so there are the first signs of weakness due to the high price environment," Seth Kleinman, analyst at Citigroup said.
"However ...
Title:
Oil gains on cheap ECB loans, Iran fears
Brent crude oil gained around $1 per barrel on Wednesday, snapping two days of sharp falls, after the European Central Bank allocated more than $500 billion for cheap loans, spurring buying of riskier assets.
Fears about supply disruption from Iran also pushed prices back towards 10-month highs.
Front-month Brent rose 97 cents to $122.52 a barrel by 1243 GMT, after sliding $2.62 on Tuesday to settle at $121.55.
Brent is up over 10 percent this month and on track to post its strongest monthly gain since last February, though it has retreated from highs above $125 set last week.
U.S. crude gained 34 cents to $106.89 a barrel. The contract slipped $2.01 to settle at $106.55.
Banks grabbed 530 billion euros at the ECB's second offering of cheap three-year funds, fuelling hopes more credit ...
Title:
ECB loan take-up lifts European shares, commodities
(Reuters) - A substantial take-up of the European Central Bank's latest offer of cheap loans lifted stock markets and commodities on Wednesday, driving demand for higher yielding currencies at the expense of the euro.
Around 800 banks took 530 billion euros ($711.45 billion) at the ECB's second-ever offering of 3-year funding, essentially in line with market expectations.
The boost to liquidity, which amounts to over one trillion euros when combined with an early offering in late December, is expected to support demand for riskier assets like equities, commodities and peripheral European bonds.
"This will increase the level of excess liquidity pretty sharply, which is ultimately positive or very positive for risk trades," said Luca Cazzulani, Unicredit fixed income strategist.
The ...
Title:
ECB's LTRO takes the limelight
Morning Briefing : ECB's LTRO takes the limelight
What's new:
United States: Equities embracing higher Key levels despite mixed data yesterday
Asia: Asian equities in positive territory ahead of ECB LTRO
FOREX: Mostly looking for direction yet antipodeans supported USD still sold
Forex rates in Asia and Indices:
EURUSD: 1.3452 – 1.3485.
USDCHF: 0.8961 – 0.8936.
GBPUSD: 1.5898 - 1.5937.
EURJPY: 108.09 – 108.73.
USDJPY: 80.25– 80.69.
DowJones: 13’005.12 +0.18%
NASDAQ: 2'986.76 +0.69%
S & P 500: 1'372.18 +0.34%
Nikkei: 9’723.24 +0.01%
Shanghai: 2'428.49 -0.95%
Gold: $ 1'788.70
Crude Oil: $ 106.89
Comments:
US equities marked landmark levels yesterday evening; we saw the Dow Jones closing above the key 13000 level for the first time since May 2008 and the S&P similarly embracing ...
Title:
Technical analysis of the XAU/USD (Gold) pair on February 29th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday the breakout of 1780 points, offering a new buy signal.
The pair is still moving above the upper band of its long term bullish channel (cf long term analysis)
All indicators are bullish.
We continue to advise long positions as far as 1760 is support.
The breakout of 1800 points will give a new buy signal and open the way towards 1830 points.
In case of return below 1730, we will wait the breakout of 1750 points to advise short positions.
See the previous analysis of the XAU/USD pair of February 28th, 2012
XAU/USD Analysis
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